About Commonwealth Bank's Fixed Personal Loans

As a financial institution with a long history of outstanding banking service, Australia's Commonwealth Bank remains committed and determined to help its clients achieve their goals and finance their planned or emergency expenses. One of the most popular financial solutions through which Commonwealth Bank continues to provide assistance to its clients today is the Fixed Personal Loan.

Commonwealth Bank's Fixed Personal Loan gives clients the chance to enjoy hassle-free borrowing for all their financial concerns. The Fixed Personal Loan is beneficial for all client groups since they are given the chance to plan their finances and repayment schedules for the whole loan term. The Fixed Personal Loan promises no annoying surprises for clients, with fixed competitive interest rates and fixed monthly repayment schedules. Clients no longer have to worry about sudden increase in repayment amounts due to interest rate fluctuations, since the interest rate is fixed at 13.70% to 15.70% per annum.

Because the Fixed Personal Loan is an unsecured personal loan, the Commonwealth Bank requires borrowers to have good credit standing, be an Australian citizen or a permanent resident, and present original documents as requested by the bank. These documents include proof of income, records of loans and debts, banking records, loan refinancing records, and identification documents (such as driver's license, birth certificate, or passport).

Commonwealth Bank's Fixed Personal Loan boasts of several key features, including loan amount between $5,000 up to $50,000, a loan term between one to seven years, quick and easy online application, repayment options (weekly, fortnightly, or monthly), and 24-hour access to loan funds.

Required fees that may apply for Commonwealth Bank's Fixed Personal Loan includes: an establishment fee of $135; an excess cheque fee of $5.40 for each additional cheque issued after the first two free cheques; a cancelled cheque fee of $10 for each cheque; a loan service fee of $10; a late payment fee of $45; overdrawing approval fee of $30; a repayment redraw fee of $10 for branch redraw transactions; an administrative fee of $50; and a switching fee of $70.